Just Eat’s new owner pushes for European revival as rivals close in
Prosus chief Fabricio Bloisi pushes aggressive growth targets despite stiff competition
The new owner of Just Eat Takeaway has pledged to restore growth towards pandemic-era levels, setting an ambitious target despite years of slowing growth at the European delivery food group.
Fabricio Bloisi, chief executive at Prosus, said he aims to lift annual order growth to 20 per cent before 2030 following its €4.1bn takeover of Just Eat last November.
If achieved, it would reverse years of declining order growth at Just Eat. The group’s orders declined 5 per cent between 2023 and 2024, after rising as much as 33 per cent during the Covid-19 pandemic.
“When they get to 20 per cent . . . I don’t have this date, but it’s not 2030, it’s before. I want [it to be] tomorrow, but it will take more time,” Bloisi said in his first interview on plans for Just Eat.
Bloisi said it would adopt several initiatives from its Brazilian delivery company iFood to drive growth at Just Eat, including using AI to suggest orders and more personalised marketing.
Prosus’s plans come amid a wave of consolidation as European food delivery groups have struggled to match lockdown-era growth rates because of changing user habits and intense competition.
Prior to its £2.9bn takeover by US giant DoorDash, UK group Deliveroo’s annual orders grew just 2 per cent between 2023 and 2024.
Rival food delivery groups outside of Europe had stronger growth. DoorDash has regularly grown annual orders by more than 20 per cent, aided by acquisitions such as Finland-based Wolt in 2022. Orders at Prosus’s iFood, which has an 80 per cent share of Brazil’s food delivery market, grew 29 per cent from 2024 to 2025.
Bloisi, who previously headed up iFood before taking over at Prosus, said Just Eat was achieving 20 per cent growth in several cities and he would like to see similar progress across the group “within months”. He said Prosus was considering further financial investment in the company to help it grow.
“One of the things we are talking about is ‘large commerce model’, that means training data that understand the user behaviour — then it’s starting to change the services based on what the user really needs,” he said.
The Prosus boss said it had tested the tools across 150 Just Eat cities, saying users receiving more specific notifications and tailored app interfaces ordered 11 per cent more frequently than those who received the standard marketing.
“Promotion and marketing at Just Eat was more or less one size fits all . . . But you can have a thousand [marketing] segments with different offers to each segment,” he added.
Giles Thorne, head of European internet research at Jefferies, said there were several reasons to think Prosus’ target for Just Eat was realistic, including the example set by other players and Bloisi’s record.
“I have extremely high confidence that this Prosus management team will manage Just Eat Takeaway better than the last one,” he said.
But Just Eat is facing growing competition in Europe. Uber is expanding its food delivery business across the continent this year, and has grown its share of the UK market from 28 per cent in January 2022 to 38 per cent at the end of 2025, according to YipitData. Its share of the German market has also jumped from 10 per cent to 26 per cent over the same period.
“There is a large body of evidence to suggest that the Americans [such as DoorDash and Uber Eats] are attacking JET in its core markets,” said Thorne.
Bloisi declined to comment on how he plans to reduce Prosus’s 27 per cent stake in Delivery Hero — a concession he proposed in order to get EU officials to approve the Just Eat deal last year. The disposal must be completed by August.
The offer made by Prosus — the investment arm of South African group Naspers — came after EU officials raised concerns that the deal could lead to price rises for consumers in markets where Just Eat operated alongside Delivery Hero’s subsidiary Glovo, such as Spain, Poland and Italy.
The FT previously reported the company was exploring several options for offloading its stake, including a block sale and trickling the holding into the public market.
Bloisi, who described himself as the boss of a “$100bn start-up”, also restated his goal to get the group’s market cap to $168bn by 2028 but said it had nothing to do with the $100mn bonus it would give him.
“That’s not the point, I’m not building something for a short term, but to me this is short term. I’m building for the long term. We should be a $200bn, $300bn company,” he said.
He also brushed off concerns that the company’s value was heavily linked to Chinese tech giant Tencent, in which it has a 23 per cent stake. “We bet a lot on Tencent, we think its value is going to grow substantially,” he said.